Lance Lvovsky
Tax Summary of Coronavirus Relief (CARES ACT)
On Friday, March 27, the President signed the massive $2 trillion coronavirus Stimulus Bill (the Coronavirus Aid, Relief and Economic Security [CARES] Act) to provide assistance to workplaces and employees. The law pr...
Aaron Junck
L/O question
What do you do when you close a lease option deal in which you collect Lease Option consideration??? Legally do you have to hold it as if it was a deposit or can you use that to go find more investments and invest it?...
Gary Kane
Investor From Jacksonville, Fl.
Technical professional working full-time ready to return to real estate investing. Have done a couple re-habs in the past, interested in the same as well as rental property. Have substantial IRA assets to work with, w...
Mike Landry
When is this income considered earned
My wife is a newer Realtor. She earned a commission on the purchase of OUR house that closed on December 30, 2016. However because it was our house she forgot to pick the check up at closing...it was a busy day. So...
Charit P.
Taxes on multi-family syndication
Hoping someone with syndication and tax knowledge can answer my question. My first LP multi-family syndication deal sold for a profit in 2022. When I sum up the tax losses claimed during the first 2 years of the deal ...
Bob Harris
Income or not?
Are the draws I take for rehab on my properties considered other income on my P&L statement or are they not included at all? My reason for asking is because all my expenses (subs, material, interest, and utilites...
David Mcginnis
effect of UDFI on distributions
If my SIDRA (regular/untaxed contributions) pays UDFI tax, what happens to distributions from the IRA? Do I have to pay tax on that income again or do I now have basis in the IRA?Also, I think I understand that bonus ...
Michael Outar
Flipping a house with a Self Directed IRA
I am purchasing a SFR with a self-directed IRA along side a non-recourse loan. Much question is this. This home has flipping potential but I will not have enough reserves in the IRA to do all the improvements. Is ther...
Jay Johnson
Transferring passive losses
I had several rental properties that had accumulated passive losses. I started a LLC with my wife (2010) but those previous losses were not carried over at the start of the LLC. My accountant at the time said they can...
David Pugh
How to properly apply tax deductions
Hi all - I'm just starting out my plans to invest in a rental property. I've built a pretty good model, but I'm trying to figure out one key aspect around taxation. For my example, let's assume the following year 1 pa...